Global X FinTech ETF (NASDAQ:FINX) Trading Down 4% – Here’s What Happened

Global X FinTech ETF (NASDAQ:FINX)’s share price was down 4% on Tuesday . The stock traded as low as $23.41 and last traded at $23.51. Approximately 71,056 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 117,685 shares. The stock had previously closed at $24.50.

Global X FinTech ETF Price Performance

The business has a fifty day moving average of $25.47 and a 200-day moving average of $29.69. The stock has a market capitalization of $196.31 million, a price-to-earnings ratio of 31.36 and a beta of 1.59.

Global X FinTech ETF Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, January 7th. Investors of record on Tuesday, December 30th were issued a dividend of $0.1706 per share. This represents a yield of 115.0%. The ex-dividend date was Tuesday, December 30th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in shares of Global X FinTech ETF by 51.4% in the 1st quarter. NewEdge Advisors LLC now owns 1,157 shares of the company’s stock worth $32,000 after acquiring an additional 393 shares during the last quarter. AlphaCore Capital LLC acquired a new position in shares of Global X FinTech ETF in the 2nd quarter valued at $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Global X FinTech ETF by 75.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,196 shares of the company’s stock valued at $35,000 after purchasing an additional 516 shares during the period. Kestra Advisory Services LLC purchased a new position in Global X FinTech ETF in the 4th quarter worth about $50,000. Finally, Banque Cantonale Vaudoise purchased a new position in Global X FinTech ETF in the 3rd quarter worth about $73,000.

Global X FinTech ETF Company Profile

The Global X FinTech ETF (FINX) is an exchange-traded fund that is based on the Indxx Global Fintech Thematic index, a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services. FINX was launched on Sep 12, 2016 and is managed by Global X.